Business Industry Reports Growth of Recycled Metal Market by 2023

Growth of Recycled Metal Market is
estimated to cross US$ 847.62 billion
globally by 2023
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Recycled Metal market size to maintain the average annual growth rate of 3.38% from 645.76 Billion
$ in 2014 to 713.44 Billion $ in 2017, market analysts believe that in the next few years, Recycled
Metal market size will be further expanded, we expect that by 2023, The market size of the Recycled
Metal will reach 847.62 Billion $.
Scrap metals collected from various sources are raw materials used in metal recycling. Scrap metals
are separated and processed several times to yield recycled metals. Scrap metals are primarily
collected from discarded automotive components, construction materials, electronic devices,
electrical goods, etc.
One of the major drivers for this market is the rise in role of metal recycling in key industries.
Recycling has witnessed increased importance in key industries such as healthcare and automotive.
Vendors are also recycling metal instruments and devices used in hospitals and clinics.
are the increasing income and spending capacity of people in developing economies and increasing
demand in various end-use sectors such as building & construction, metal fabrication, electronics,
medical & health care equipment, automotive, and packaging.